Not in my backyard! Pace Of Sales In Greater Hartford's Housing Market Is Down Less Than It Is In Some Other Cities, And No Collapse Is Expected

I love reading local paper stories, with realtors talking about the big mean bubble in other cities, but how theirs will be hunky-dorry. I especially like misleading year-over-year comparisons vs. monthly, which shows the real trend going on since August.

Greater Hartford's residential market is not seeing the kind of dramatic slowdown now hitting cities like Boston, Phoenix and San Diego.

While there are some signs of cooling - including more homes for sale and moderating price appreciation - sales through the first 11 months of this year are matching the strong levels of the same period last year and properties are still selling at a good clip.

"The obvious thing is that the market is slowing a bit from the frenetic pace of the last few years," said Jeff Arakelian, executive director of the Greater Hartford Association of Realtors. "But the market is still quite healthy."

Economists are watching the rising inventory of new and existing single-family homes for sale this fall in the 57-town area tracked by the association. They also are watching a slowdown in double-digit increases in price appreciation."Clearly, the market is cooling here," said Ronald F. Van Winkle, a West Hartford economist. "But it's not a predecessor to a collapse."